Under Contract: Prices Drop To Find a Buyer

• July 15, 2013

by Shilpi Paul

In Under Contract, UrbanTurf looks back at properties it has featured recently that were snatched up by DC’s alert buyers.

Affordable Family-Sized Home in Woodridge

For those who want a reasonably priced house with a lawn inside the DC borders, Woodridge is a good option. This listing is an example of one such family-friendly home, and it was featured as one of our Best New Listings when it hit the market last month. The three-bedroom is located on the corner of a quiet block, and has a wraparound porch, renovated interior and sizable kitchen. Originally, the sticker price was just south of $500,000. The price dropped slightly, from $499,900 to $485,000, and found a buyer shortly after that.

• Address: 3101 South Dakota Avenue NE (map)
• Price: $485,000
• Bedrooms: Three
• Bathrooms: Two
• Year Built: 1928
• Days on Market: One month, 10 days

Price Falling on Florida Avenue

Last week, we featured this Florida Avenue home as a candidate that may attract multiple bids. Besides the desirable location, this property caught our eye because of the precipitously falling asking price. Since it hit the market in early May, the price has dropped from an original $815,000 to its currently list price of $675,000. Generally, a price drop like this would indicate a motivated seller. Well, it seems like the price finally fell to match demand: after the reduction, the home found a buyer within a week.

• Address: 1702 Florida Avenue NW (map)
• Price: $675,000
• Bedrooms: Three
• Bathrooms: Two
• Year Built: 1904
• Days on Market: Two months

Historic Capitol Hill Rowhouse Renovated By Owners

This Capitol Hill rowhouse has a mixture of historic and renovated features that have been updated over time by the owners. While much of the woodwork, etched glass transoms and moldings have been maintained, the kitchen and bathrooms are fairly modern. There is a rentable basement efficiency as well as a porch off of the second story and a patio in the backyard. After a couple weeks on the market, the home went under contract just before the fourth of July.

• Address: 514 7th Street NE (map)
• Price: $775,000
• Bedrooms: Three
• Bathrooms: 2.5
• Year Built: 1909
• Days on Market: 13 days

This article originally published at http://dc.urbanturf.com/articles/blog/under_contract_prices_drop_to_find_a_buyer/7317